Southfield, MI, December 14, 2006--Collins & Aikman Corp. said Wednesday it had selected a bidder for its North American automotive flooring and acoustic components business, according to the Detroit Free Press.
Collins & Aikman Corp is not affiliated with the floor covering industry’s Tandus Group and its C&A brand.
The supplier of interior components said details of the bid, including the name of the lead bidder, will be announced at a January bankruptcy court hearing.
The news comes on the heels of an announcement last month that the company's directors are trying to sell the company in parts or in its entirety because of customer production cuts and deterioration in the auto industry.
John Boken, Collins & Aikman's chief restructuring officer, said the potential sale of the flooring and acoustic components business, known as its Soft Trim business, will help raise money for the company's lenders and save jobs.
"We are extremely pleased with the level of interest shown in purchasing our businesses," Boken said in a statement.
The Soft Trim business operates 14 facilities in the United States, Canada and Mexico, employs approximately 4,100 people and makes products for all major automakers. Collins & Aikman is still trying to sell the majority of its remaining businesses that produce injection-molded interior components and convertible roof systems.
